Nickel Industries (OTCMKTS:NICMF) Shares Down 1.8% – Should You Sell?

Nickel Industries Limited (OTCMKTS:NICMF)’s stock price was down 1.8% during mid-day trading on Thursday . The company traded as low as $0.7180 and last traded at $0.7180. Approximately 975 shares traded hands during trading, a decline of 88% from the average daily volume of 8,408 shares. The stock had previously closed at $0.7311.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reiterated a “buy” rating on shares of Nickel Industries in a report on Monday, February 16th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Nickel Industries currently has an average rating of “Buy”.

Nickel Industries Stock Down 1.8%

The company has a 50-day moving average price of $0.70 and a two-hundred day moving average price of $0.63.

About Nickel Industries

Nickel Industries Limited is an Australia-based resources company focused on the development, construction and operation of battery-grade nickel processing assets in Indonesia. The company’s core business centers on the production of mixed hydroxide precipitate (MHP), a precursor material used in the manufacture of lithium-ion batteries for electric vehicles and energy storage systems.

The company owns and operates two high-pressure acid leach (HPAL) plants in Southeast Sulawesi. Its flagship Hengjaya Nickel project and the Ranger Nickel facility leverage Indonesia’s rich laterite nickel deposits to produce MHP for customers in Asia, Europe and North America.